Exercise
Answer True or False
- 1. True or false. Annual review procedures do not need to include the firm’s remote locations.
- 2. True or false. Business continuity plans must be reviewed and updated annually.
- 3. True or false. Records associated with blotters, ledgers, and securities must be retained for three years.
- 4. True or false. Unusual activity reports must be maintained for 18 months after the report was generated.
- 5. True or false. Fingerprints need to be kept until one year after employment termination.
- 6. True or false. The business continuity plan must be disclosed whenever a customer opens a new account.
- 7. True or false. All account recor